Mumbai, June 16, 2026, 00:34 IST
- Larsen & Toubro closed up about 3% at the end of Monday’s trade. The Nifty 50 moved 0.98% higher and the Sensex added 0.97%. The Economic Times
- Shares rose with India’s market rebound after oil dropped on a U.S.-Iran peace framework. Reuters said L&T’s Middle East exposure helped the stock. Reuters
- L&T’s next stock mover will probably come from updates on its big order book and word on closing the Nabha Power and Hyderabad Metro sales, set for June 30. Azure Front Door
Larsen & Toubro Limited jumped on Monday as buyers piled into Indian equities on a risk-on push. Shares were last seen at ₹4,169.80, up 2.98% from ₹4,049.30, Economic Times data showed. The move outpaced the market, with the Nifty 50 ending up 0.98% at 23,853.90 and the BSE Sensex up 0.97% at 76,264.33. The Economic Times
L&T moved on news that hit Indian stocks Thursday. Reuters said Indian shares jumped after the U.S. and Iran announced a deal in principle to end the war and reopen the Strait of Hormuz, pushing Brent crude down 5.2% to around $82.8 a barrel. Cheaper oil tends to help India’s inflation outlook, the rupee, and the trade gap. But for L&T, the connection is more immediate: shares rose 3% as Reuters noted the company’s large Middle East revenue. “Now that the Iran war appears to be nearing an end, investors have a significant source of comfort,” said Gaurav Bhandari, CEO at Monarch Networth Capital, to Reuters. Reuters
The bull case still holds. L&T posted record group order inflows of ₹435,590 crore for FY26 in its latest annual report, with revenue at ₹285,874 crore and recurring after-tax profit at ₹17,238 crore. The consolidated order book hit a new high of ₹740,327 crore as of March 31. International orders make up 52% of that backlog. Peace in the Gulf matters because investors are marking down execution risk on the overseas work, not just trading on the index. Azure Front Door
The next step is seeing if management makes good on selling non-core assets. L&T Chairman and Managing Director S N Subrahmanyan said L&T has signed deals to sell its whole stake in Nabha Power and L&T Metro Rail Hyderabad. “We expect the closure of these transactions by 30th June 2026,” he said. Once that’s done, investors will watch order inflows each quarter, margin delivery, and how L&T handles working capital. These are in focus since stocks go up if markets see better or safer cash flows ahead, and drop with more earnings risk, delays, or valuation pressure. Azure Front Door
L&T stock holds steady support but isn’t cheap. Trendlyne has the average analyst target at ₹4,630.43, about 11.05% higher than the current ₹4,169.80. Economic Times puts the P/E at 34.63. That’s what buyers are paying for every rupee of earnings. Bulls see the record order book, infrastructure cycle, and less West Asia risk. Bears point to valuation, project risk, and margins. L&T said Energy Projects EBITDA margin dropped to 6.8% in FY26 from 8.5% after higher costs on some older hydrocarbon contracts. At today’s price, L&T looks fair-to-decent for investors willing to take on geopolitical and execution risk, but not a bargain play. Trendlyne
